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US green-lights massive project set to transform the aviation industry — here's what you need to know

US green-lights massive project set to transform the aviation industry — here's what you need to know

Yahoo15-03-2025

In February, the Trump administration surprised many by finalizing a sustainable fuel deal initially put into place by the Biden administration, expanding green fuel production in the U.S., Reuters reported.
The loan, disbursed by the Loan Programs Office under the Inflation Reduction Act, would allow manufacturer Calumet to expand a sustainable aviation fuel refinery in Montana. Currently, the facility produces 140 million gallons per year of biofuels; the expansion would more than double production to 315 million gallons and generate 500 jobs.
Biofuels have been in development for decades but have recently come to the fore as an alternative to dirty fossil fuels used in the aviation industry. Biofuels are made from plant and animal material, which is often waste from food production, and making and using these fuels generates less heat-trapping air pollution than collecting and using the same amount of fossil fuels.
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Unlike making aircraft electric — which requires extensive modifications to the equipment — biofuel can be used in the same engines as traditional fuel. That makes it an easy change to make immediately.
That's good news for the planet because excess heat-trapping gases from air pollution are overheating the Earth.
That causes damage to the environment and crops and leads to dangerous natural disasters. Much of that air pollution comes from the aviation industry — 2.5% of global heat-trapping gas emissions in 2023, per the International Energy Agency. Reducing that pollution is one of the necessary steps in getting the world's temperature in check.
While this is good news, this isn't the last word on the subject. An energy department spokesperson told Reuters that the department "is continuing to conduct a department-wide review of all funding, including grants and loans, to ensure all activities are consistent with the law and in accordance with President Trump's executive orders and priorities."
Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.

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Exclusive-Shein and Reliance aim to sell India-made clothes abroad within a year, sources say
Exclusive-Shein and Reliance aim to sell India-made clothes abroad within a year, sources say

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time20 minutes ago

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Exclusive-Shein and Reliance aim to sell India-made clothes abroad within a year, sources say

By Dhwani Pandya and Helen Reid MUMBAI/LONDON (Reuters) -Fashion retailer Shein and partner Reliance Retail plan to rapidly expand their Indian supplier base and start overseas sales of India-made Shein-branded clothes within six to 12 months, said two people with knowledge of the matter. The China-founded, Singapore-headquartered e-commerce firm has been discussing plans with the Indian retailer since before the U.S. imposed tariffs on Chinese imports that intensified the need to diversify sourcing, the people said. The aim is to raise Indian suppliers to 1,000 from 150 within a year, they said. In a statement to Reuters, Shein said it licensed its brand for use in India. Reliance did not respond to queries. Shein sells low-priced apparel such as $5 dresses and $10 jeans shipped directly from 7,000 suppliers in China to customers in around 150 countries. Its biggest market is the U.S. where it is adjusting to tariffs on low-value e-commerce packages from China which were previously imported duty free. The retailer launched in India in 2018 but its app was banned in 2020 as part of government action against China-linked firms amid border tension with its northeastern neighbour. It returned in February under a licensing deal with the Reliance Industries unit which launched selling Shein-branded clothes produced in local factories. In contrast, Shein's other websites mainly list goods from China. Reliance, controlled by Asia's richest person, Mukesh Ambani, has contracted 150 garment manufacturers and is in discussion with 400 more, said the two people, declining to be identified due to confidentiality concerns. The goal is 1,000 Indian factories making Shein-branded clothes within a year for both the Indian market and to service some of Shein's global websites, the people said. Shein initially wants to list India-made clothes on its U.S. and British websites, one of the people said. Discussions have been ongoing for months and the launch time of six to 12 months could change depending on supplier numbers, the person said. The scale of supplier expansion and export time frame is reported here for the first time. Shein has licensed its brand for domestic use to Reliance which "is responsible for manufacturing, supply chain, sales and operations in the Indian market," Shein said in a statement. In December, Minister of Commerce and Industry Piyush Goyal told parliament that the Shein-Reliance partnership aimed to create a network of Indian suppliers of Shein-branded clothes for sale "domestically and globally". ON-DEMAND MANUFACTURING Shein is a fast-fashion behemoth earning annual revenue of over $30 billion through low prices and aggressive marketing. Most of its products are from China with some made in countries such as Turkey and Brazil. Its expansion in India mirrors interest in the country from the likes of Walmart and others throughout the global fashion and retail industries, particularly those looking for suppliers outside China due to the Sino-U.S. trade war. The Shein India app has been downloaded 2.7 million times across Apple and Google Play stores, averaging 120% on-month growth, showed data from market intelligence firm Sensor Tower. Offerings during its first four months have reached 12,000 designs, a fraction of the 600,000 products on its U.S. site. In the women's dresses category, its cheapest item is priced 349 Indian rupees ($4) versus $3.39 on the U.S. site as of June 9. Shein's Indian partner Reliance, which operates the app, is working with suppliers to assess whether they can replicate Shein's global best-sellers at lower cost, the two people said. Reliance aims to emulate Shein's on-demand manufacturing model, asking suppliers to make as few as 100 pieces per design before increasing production of those that sell well, they said. Executives from Reliance recently visited China to understand Shein's "innovative" supply chain operations, "data driven" design processes and "disruptive" digital marketing, Manish Aziz, assistant vice president Shein India at Reliance Retail, said in a LinkedIn post in which he called Shein's scale and speed "truly incredible". The partnership is one of dozens Reliance has with fashion brands, such as Brooks Brothers and Marks and Spencer. The firm also runs e-commerce site Ajio and its retail network competes with Amazon and Walmart's Flipkart as well as value retailers such as Tata's Zudio. Reliance plans to work with new suppliers to source fabric - especially fabric made using synthetic fibres where India lacks expertise - and import required machinery, the people said. The firm will invest in suppliers and help them grow which in turn will help the Shein-Reliance partnership go global, they said. Sign in to access your portfolio

India central bank's large rate cut squeezes forward premiums, leaves rupee vulnerable, analysts say
India central bank's large rate cut squeezes forward premiums, leaves rupee vulnerable, analysts say

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time23 minutes ago

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India central bank's large rate cut squeezes forward premiums, leaves rupee vulnerable, analysts say

By Nimesh Vora and Jaspreet Kalra MUMBAI (Reuters) -The Reserve Bank of India's surprise outsized rate cut last week will leave the rupee vulnerable to further depreciation by pressuring already depressed foreign exchange forward premiums, several analysts said on Monday. The rupee has underperformed its Asian peers in 2025 amid weak capital flows. A narrowing interest rate differential — with the U.S. Federal Reserve moving slower than the RBI in cutting rates — suggests the Indian currency may continue to lag. MARKET REACTION The 1-month U.S. dollar/rupee forward premium — typically more sensitive to liquidity conditions — fell to 7.5 paisa, its lowest level since November. Meanwhile, the 1-year premium, which is more responsive to rate differential between the U.S. and India, declined to 1.5250 rupees, marking its lowest level in nearly a year. GRAPHIC: WHY IT'S IMPORTANT A drop in dollar/rupee forward premiums makes the rupee less attractive for carry trades, and diminishes the incentive for exporters to hedge future receivables. At the same time, it raises the likelihood that importers—who typically hedge near-term payment obligations—will step up their hedging activity. The decline in premiums - a less favourable rate differential between the U.S. and India - could leave the rupee open to sharper depreciation. CONTEXT Against the backdrop of benign inflation and the need to support growth, the Reserve Bank of India last Friday delivered a larger-than-expected 50 basis point rate (bps) cut, exceeding the 25 bps anticipated by economists. In a further easing move, the central bank slashed the cash reserve ratio for banks. KEY QUOTES "One thing the rupee had going for it is that it offered attractive carry ... with the 50-bps rate cut from the RBI, carry attraction has been reduced," Mitul Kotecha, head of FX and EM macro strategy Asia at Barclays, adding that in an environment where investors are again focussed on carry, the rupee's appeal has been diminished. Falling premiums can be a "mild added headwind" for the rupee amid globally elevated yields, Dhiraj Nim, FX strategist at ANZ Research, said, and pointed out that if India growth data weaken, there could be scope for one more rate cut. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Watch These S&P 500 Levels After Index Hits 6,000 Points For First Time Since February
Watch These S&P 500 Levels After Index Hits 6,000 Points For First Time Since February

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time31 minutes ago

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Watch These S&P 500 Levels After Index Hits 6,000 Points For First Time Since February

The S&P 500 surpassed the 6,000-point mark on Friday, extending a rally for stocks that's been fueled by optimism about strong corporate earnings and economic data, as investors await further developments on the trade front. The benchmark index broke out from a pennant pattern last week, indicating a continuation of its recent move higher, while the relative strength index confirms bullish momentum. Investors should track key overhead areas on the S&P 500's chart around 6,100 and 6,575, while also watching major support levels near 5,770 and 5, S&P 500 (SPX) surpassed the 6,000-point mark last week for the first time since February, extending a rally for stocks that's been fueled by optimism about strong corporate earnings and economic data, as investors await further developments on the trade front. The benchmark index has rallied sharply from its early-April low to trade just 2.4% below the record high it established in mid-February. Last month, the S&P 500 posted its biggest monthly gain since November 2023, as concerns about the Trump administration's "Liberation Day" tariffs have subsided. Below, we take a closer look at the S&P 500's chart and apply technical analysis to identify key levels that investors will likely be watching. After climbing above a descending broadening formation, the S&P 500 trended sharply higher before consolidating within a pennant. More recently, the index broke out from the pattern last week, indicating a continuation of its recent move higher. Meanwhile, the relative strength index confirms bullish momentum, but remains below its overbought threshold, providing ample room for further upside. Let's identify two key overhead areas on the S&P 500's chart and also locate major support levels to watch during potential retracements. The first key overhead area to track sits around 6,100. This area may provide resistance near a trendline that connects a series on peaks that formed on the chart between December and February just below the index's record high. Investors can project an upside target above the record high by using the bars pattern tool. When applying the analysis to the S&P 500's chart, we extract the steep move higher following the breakout from the descending broadening formation and reposition it from the pennant's breakout point. This projects a target of around 6,575, about 10% above Friday's close. During retracements, investors should initially watch the 5,770 level. The index could find support in this area near the low of the pennant pattern, which closely aligns with the 200-day moving average (MA) and a range of corresponding trading activity on the chart extending back to September last year. Finally, a close below this level could see the S&P 500 revisit lower support around 5,650. Those who invest in the index may seek buying opportunities in this region near the upward sloping 50-day MA and a horizontal line that links a series of price action on the chart between July and May. The comments, opinions, and analyses expressed on Investopedia are for informational purposes only. Read our warranty and liability disclaimer for more info. As of the date this article was written, the author does not own any of the above securities. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

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